Import and Export Department (Ministry of Industry and Trade) cited data from Chinese Customs Administration, in the first 8 months of 2024, China's banana imports reached approximately 1.13 million tonnes, worth 592.1 million USD, down 7.9% in volume and 23% in value compared to the same period last year.
In the first 8 months of 2024, average import price of bananas to China from the world reached 524 USD/tonne, down 16.3% over the same period last year. In particular, average import price of bananas to China from most sources decreased, except for Mexico.
There has been a shift in structure of banana supply to Chinese market, Vietnam became the largest banana supplier to China in the first 8 months of 2024, with imports reaching 459,940 tonnes, worth 189.82 million USD, up 19.6% in volume and 0.8% in value over the same period last year.
Vietnam's banana market share in China's total imports increased from 31.33% in the first 8 months of 2023 to 40.71% in the first 8 months of 2024. Similarly, in the first 8 months of 2024, China sharply increased banana imports from Laos, Mexico, and Indonesia.
In contrast, China reduced banana imports from Philippines and Cambodia. Thus, Vietnamese banana industry has replaced the Philippines as the No.1 supplier and is gaining an advantage in the Chinese market.
Reason is said to be unfavorable weather in the Philippines, leading to reduced output and higher prices. Although Philippine bananas are still popular in Chinese market thanks to their flavor, scarcity of supply and higher costs have created conditions for Vietnamese bananas to expand their market share. In addition, geopolitical tensions have also caused China to reduce banana imports from the Philippines.

Source: Vitic/ congthuong.vn